We have been following the investment section of this forum, even though we had to control ourselves from commenting our views on various topics. Its has come to our notice that so many ponzi schemes are fronting the name forex as their line of business in this forum, and some go as far as offering training in the same forex which is still part of the plan to make you believe that they are not running a ponzi scheme. We have done a lot to educate members/investors of this forum on the different ways of detecting a scam/fraudulent investment platform especially in this forex line of business/investment.

In an era where there is the PAMM, MAM, LAMM, structure of managing investors funds in the forex market, people still decide to pay money into someone's personal account in the name of investing in forex. How gullible will investors continue to be in this forum/country. Even if the ponzi/investment promoters claims to have an office in all the states in Nigeria, including offices in Dubai, UK, Singapore, USA etc, how much does it takes to rent an office space, compared to the billion of investors money that there will run away with? After being defrauded of your billions, assuming they at least, leave the office furnitures for you, and you are to share the office furniture among yourselves to recover your money, how much of your money will you recover?

We will always sound it out that an office is good, but does not secures your capital, and even if you are to meet the CEO of the company face to face takes its pictures, record his videos, it does not secures your money. If the CEO get a Visa, jets out of this country, do you know where he is travelling to? He can even live in this country without a trace. If you should know, EFCC has been trying to arrest and deport corrupt politicians, but to no avail. Don't they have their pictures. We can't blame you, it is just that you have allowed greed to control your senses, so as to throw caution to the wind and be making payments to someone's personal account, while waiting to receive payouts from these ponzi schemes who are taking money from new investors to pay you.

Somebody will say, "but they are registered with the Cooperate Affairs Commission (CAC)". CAC registration is a business registration. There is a big difference between CAC registration and Government regulation. CAC does not have the power to monitor, regulate the businesses, they do not have the power to audit the financial transactions/books of the investment company to know if the company is doing the business that they are claiming to do, to know if a scam/ fraud is being perpetuated. Investing in a Forex using a PAMM, MAM, or LAMM trading structure through a government regulated forex brokerage company is the way to go, if you really care so much about your investment/capital. A government regulated forex brokerage company is subjected to periodic ( quarterly, semi-annually, etc) monitoring and auditing by the regulatory body. Have you cared to ask if this investment platforms shut down their websites, close their offices and run away, who will you report to? The CAC? Sorry, the CAC has no power over such eventualities. My friend, by investing in a government regulated forex brokerage company, you have a body that is doing periodic monitoring and audit of the company's financial books, and you can report to, in case of any eventualites, you will recover your money.

Do you know that these government regulatory bodies requires that traders/investors fund be kept segregated (I.e kept separate) from the forex brokers day to day funds used in running the brokerage company? It means the broker can not run away with your money, and even if the forex broker, due to mismanagement of it's funds go bankrupt, it cannot use traders/investors funds to pay it's creditors. Be wise.

"But I ask them, they told me that they are regulated by the Central Bank of Nigeria (CBN)". My friend, you have been deceived. The CBN only issue license to banks and only regulates the banks.

"I was told in their office that they are regulated and license by the Economic and Financial Crime Commission (EFCC)" Can you see how gullible you are? If we talk now, you will say that you went to Harvard and begin to list the number of master degrees that you have. Maybe you need a Master Degree in common sense, and your investment with them will be counted as your tuition fee, when they finally close shop. When was EFCC made an investment license issuing body or a forex investment regulatory body? They could be a genuine trading company, but why are they setting up such loose investment structure (I.e only if they are genuine), do you know that someone can wake up one day with investors deposits running to billions, with a Visa and flight ticket, shuts down their website, close their offices, travels out to a very quiet and serene country, away from being tracked down, knowing fully well that with all the billions, they are made for live.

Do your know that inside each of us is an angel and a devil, and it depends on who you listen to? What if they had decided to listen to the devil from day one and decided to setup such loose investment structure? It think if these forex investment platforms have genuine intentions, if they are not running ponzi schemes, it is not too late for them to restructure their investment platform to secure investors capital before the devil begins to wishper to them.

If an investment company claims to be regulated by the Security and Exchange Commission (SEC), CBN, EFCC, etc, (already EFCC and CBN do not regulate investment companies), why have they refuse to put it openly on their website? They know that they would be inviting more trouble for themselves. And even if it should be mentioned in their press release or during an interview with a journalist as we have been opportuned to see, they could easily deny it and give a defense that they were quoted out of context. This is computer age, anybody can just use a graphic designer and design any certificate for themselves and show to you. Why are they not putting those certificates in their websites. They know that they will be inviting more trouble for themselves.

Now let's talk about track records. Any serious and genuine forex trading/investment company knows that to be taken serious by any serious investor, they must not only provide a track record of successful trading performance, but that track record must be from a third party company/website like fxblue.com, myfxbook.com, fxstats.com, etc, to enable potential investors verify that they not only have a trading performance track records, but that the track record shows updated consistent monthly trading performance. Without verified track records from these third party websites/companies, genuine investors will have every reason to believe that you are running a ponzi scheme, of which you are. If that forex investment program is not running a ponzi scheme, let them prove you wrong by providing a third party verified trading performance track record from any of this website, fxblue.com, myfxbook.com, fxstats.com etc.